Bring on Bitcoin: why Richard Branson and Bill Gates support the currency

Blockchain President Peter Smith discusses the company's business model and
the security concerns surrounding Bitcoin

By Leon Siciliano, and Bloomberg, video source Bloomberg

10:45AM BST 08 Oct 2014

Blockchain Ltd., which runs the world’s most popular wallet for storing bitcoins, raised more than $30m in its first outside round of funding.

Lightspeed Venture Partners, Wicklow Capital and Richard Branson were among the investors, the London-based company said in a statement today. Blockchain, which has more than 2.3m consumer wallets, will use the funds to expand internationally and add features.

Blockchain is competing with Coinbase Inc., Circle Internet Financial Ltd. and other bitcoin-wallet providers to attract users as more people use the virtual currency to buy everything from books to flights. Blockchain also recently introduced an iOS mobile application for its wallets, after Apple Inc. relaxed its policies on apps that handle the virtual currency.

“The potential for a global transformation in payments powered by Bitcoin is very exciting,” Branson, founder of Virgin Group Ltd., said in the statement. “Consumers are being offered much greater control and freedom with their money and more of them have chosen Blockchain’s safe and easy-to-use wallet to hold their Bitcoins than any other.”